StockNews.com Upgrades EMCOR Group (NYSE:EME) to Strong-Buy

EMCOR Group (NYSE:EME) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, DA Davidson lifted their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Stock Down 0.5 %

EMCOR Group stock opened at $427.09 on Friday. The company has a fifty day simple moving average of $379.09 and a 200-day simple moving average of $370.20. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 28.17 and a beta of 1.07. EMCOR Group has a 52-week low of $191.50 and a 52-week high of $443.96.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.95 earnings per share. On average, research analysts anticipate that EMCOR Group will post 19.5 EPS for the current fiscal year.

EMCOR Group declared that its board has initiated a stock buyback program on Friday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EME. Matrix Trust Co acquired a new stake in EMCOR Group during the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. acquired a new position in EMCOR Group during the 2nd quarter valued at about $27,000. Innealta Capital LLC acquired a new stake in EMCOR Group in the 2nd quarter valued at approximately $29,000. ORG Partners LLC bought a new stake in shares of EMCOR Group during the second quarter valued at about $31,000. Finally, Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.